Ad hoc disclosures

After much progress has been made in the restructuring of Alexanderwerk AG, the long-awaited financing has now been secured for the time being.

Remscheid, July 15, 2010 – 1. After much progress has been made in the restructuring of Alexanderwerk AG, the long-awaited financing has now been secured for the time being. Nevertheless, further measures are necessary to ensure that Alexanderwerk AG not only covers its costs, but also generates profits again to make an investment in Alexanderwerk AG worthwhile again. This includes discussions with investors, strategic partners and shareholders at the Annual General Meeting now scheduled for October.

2. As part of the restructuring work, the Executive Board of Alexanderwerk AG decided yesterday not to provide any further financing for FoodTec GmbH beyond the financial resources already provided. As a result, FoodTec GmbH filed an application for the opening of insolvency proceedings yesterday. The Executive Board of Alexanderwerk AG decided to take this step because, despite the restructuring efforts made by the management of FoodTec GmbH to date, the situation of that company resulting in losses could not be resolved. However, the management of FoodTec GmbH is convinced that a viable concept can be developed and implemented with the insolvency administrator, which will lead to the preservation of a good part of the currently almost 30 jobs and the core competence of FoodTec GmbH.

Executive Board of Alexanderwerk AG
Jürgen Kullmann